Mirae Asset Global Investments Co. Ltd. Increases Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Mirae Asset Global Investments Co. Ltd. increased its position in Cardinal Health, Inc. (NYSE:CAH – Get Rating) by 23.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,006 shares of the company’s stock after purchasing an additional 12,257 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Cardinal Health were worth $4,920,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CAH. BlackRock Inc. boosted its stake in Cardinal Health by 25.9% during the 3rd quarter. BlackRock Inc. now owns 28,680,859 shares of the company’s stock valued at $1,912,437,000 after acquiring an additional 5,896,875 shares during the last quarter. Nomura Holdings Inc. boosted its stake in Cardinal Health by 13,599.0% during the 3rd quarter. Nomura Holdings Inc. now owns 2,719,672 shares of the company’s stock valued at $181,445,000 after acquiring an additional 2,699,819 shares during the last quarter. Elliott Investment Management L.P. bought a new position in Cardinal Health during the 3rd quarter valued at $133,360,000. Marshall Wace LLP boosted its stake in Cardinal Health by 6,373.0% during the 3rd quarter. Marshall Wace LLP now owns 1,259,640 shares of the company’s stock valued at $83,994,000 after acquiring an additional 1,240,180 shares during the last quarter. Finally, Two Sigma Investments LP boosted its stake in Cardinal Health by 363.8% during the 3rd quarter. Two Sigma Investments LP now owns 1,438,771 shares of the company’s stock valued at $95,937,000 after acquiring an additional 1,128,539 shares during the last quarter. 88.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CAH shares. Credit Suisse Group raised their price target on shares of Cardinal Health from $89.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday, February 3rd. UBS Group raised their price target on shares of Cardinal Health from $91.00 to $93.00 in a research report on Friday, May 5th. Barclays raised their price target on shares of Cardinal Health from $77.00 to $80.00 in a research report on Friday, May 5th. TheStreet upgraded shares of Cardinal Health from a “d+” rating to a “b-” rating in a research report on Thursday, May 4th. Finally, Morgan Stanley increased their price objective on shares of Cardinal Health from $86.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Nine investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $82.23.

Cardinal Health Price Performance

Shares of CAH opened at $84.79 on Wednesday. The firm’s 50 day moving average is $79.24 and its 200-day moving average is $78.08. The stock has a market capitalization of $21.59 billion, a P/E ratio of 48.73, a P/E/G ratio of 1.21 and a beta of 0.74. Cardinal Health, Inc. has a 12-month low of $49.70 and a 12-month high of $87.03.

Cardinal Health (NYSE:CAH – Get Rating) last announced its quarterly earnings data on Thursday, May 4th. The company reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.26. The company had revenue of $50.50 billion for the quarter, compared to analysts’ expectations of $49.63 billion. Cardinal Health had a net margin of 0.23% and a negative return on equity of 81.55%. The business’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.45 EPS. As a group, equities research analysts forecast that Cardinal Health, Inc. will post 5.73 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, July 15th. Stockholders of record on Monday, July 3rd will be paid a $0.5006 dividend. The ex-dividend date of this dividend is Friday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 2.36%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s payout ratio is currently 113.79%.

About Cardinal Health

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Cardinal Health, Inc is a healthcare services and products company, which engages in the provision of customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices. It also provides medical products and pharmaceuticals and cost-effective solutions that enhance supply chain efficiency.